EURO/GBP – 1.173
US$/GBP – 1.441
CHF/GBP – 1.643
CAN$/GBP – 1.495
AUS$/GBP – 1.646

Sterling has hit a 13 month low against the US dollar in early trading this morning and also fell against the euro as house price data for the UK raised concerns over the health of the domestic economy. This is a particular worry as the new government is committed to cutting the deficit, therefore investors are concerned that the UK will experience poor growth as a result. A house price survey showed that UK prices in May rose less than they did in April pointing to a slow down in the housing market recovery. The reason for the fall was an increase in supply causing sellers to reduce their price expectations. The pound hit $1.4253/ £1 – the lowest since March 2009 – and also fell against the euro to hit a low of 1.1640/ £1. There is little other data out today and as a result, the pound is likely to continue to trade on sentiment. Call in now for an updated price as we could break through the $1.40/ £1 barrier soon.

In the Euro zone, the euro has hit a 4 year low against the US dollar of $1.2235/1 as sentiment towards the region continues to fall. Concerns that the debt crisis in Europe will undermine the global economic recovery saw Asian stocks fall by 3% overnight – the most since November 2009. This in turn drove risk aversion and saw demand for US dollar surge as a safe haven asset. There is little other data out today in Europe, so expect the sentiment based trading to continue. We could quite conceivable hit $1.15/1 in the next few weeks. Call in now to ensure you don’t lose out.

In the USA, with strong demand for the US dollar today following a poor session on Asian stock markets, expect the trend to continue today. US stock futures suggest that the US stock markets will be down by several points later today. This risk aversion is driving demand for the US currency. Following strong industrial data last week, the Empire manufacturing survey is expected to show similar strength. Later in the week we have the minutes from the Fed’s recent interest rate decision, which could point to when the US Federal Reserve is likely to raise interest rates next. Get in touch now, as we have seen the pound fall by 20 cents over the last year. Stop this from continuing to impact your payments by speaking to a trader today.

Exchange rates change every second – call Smart Currency Exchange for a live up-to-the-minute quote on our Freephone number: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or fill out our online quote form at: SmartCurrencyExchange.com/quote.aspx

EURO/GBP – 1.165US$/GBP – 1.458CHF/GBP – 1.634CAN$/GBP – 1.493AUS$/GBP – 1.629 Sterling fell yesterday against the US dollar and euro as the UK’s trade balance widened by more than expected. In March, the UK imported £6.3bn more than it exported and in April this gap increased by more than £1bn to £7.5bn. Exports remained steady  Continue Reading…

EURO/GBP – 1.174US$/GBP – 1.484CHF/GBP – 1.645CAN$/GBP – 1.502AUS$/GBP – 1.648 After a strong start to the day following the formation of a new government, sterling fell against the US dollar and euro. The pound hit a low of $1.4821/ £1 after opening above $1.5040/ £1. Against the euro, sterling fell from a high of  Continue Reading…

EURO/GBP – 1.182US$/GBP – 1.501CHF/GBP – 1.666CAN$/GBP – 1.527AUS$/GBP – 1.676 Sterling rose yesterday as Gordon Brown tendered his resignation from office and David Cameron became our new Prime Minister, agreeing a coalition with the Liberal Democrats that sees them part of government for the first time in 70 years. After a volatile day, sterling  Continue Reading…

EURO/GBP – 1.165US$/GBP – 1.484CHF/GBP – 1.646CAN$/GBP – 1.518AUS$/GBP – 1.649 Sterling gained against the US dollar throughout most of yesterday, hitting a high of $1.5054/ £1 as speculation over a deal between the Conservatives and Liberal Democrats helped calm market concerns over the political situation in the UK. Despite being up nearly 1.7% against  Continue Reading…

EURO/GBP – 1.143US$/GBP – 1.495CHF/GBP – 1.638CAN$/GBP – 1.529AUS$/GBP – 1.649 After a turbulent week for the pound last week, and the most closely fought election for nearly forty years, we are still in store for a turbulent week on the foreign exchange markets. Sterling recovered marginally from Friday morning’s lows against the US dollar  Continue Reading…

EURO/GBP – 1.154US$/GBP – 1.537CHF/GBP – 1.655CAN$/GBP – 1.542AUS$/GBP – 1.650 Sterling gained against the dollar and crept back against the euro as European officials stated that additional aid for Greece would be agreed soon. Sterling is trading at $1.5360/ £1 and 11.1560/£1. The prospect of an agreement on Greek aid helped stabilise market fears  Continue Reading…

EURO/GBP – 1.151US$/GBP – 1.522CHF/GBP – 1.651CAN$/GBP – 1.534AUS$/GBP – 1.644 Sterling fell yesterday against the US dollar following the fallout from the Greek debt crisis that caused investors to flee to safer assets. The UK came under renewed examination in the run up to the election as analysts predicted that the crisis over government  Continue Reading…

EURO/GBP – 1.152US$/GBP – 1.538CHF/GBP – 1.654CAN$/GBP – 1.541AUS$/GBP – 1.664 Sterling matched the highest level of the year against the euro yesterday as Greek debt uncertainty caused the euro to suffer. The pound hit 1.1620/ £1 in early trading yesterday (matching a 5 month high last seen in January) as the latest opinion polls  Continue Reading…